Based on AMBCrypto, Singapore authorities froze over $150 million in assets linked to Chen Zhi, chairman of Cambodia’s Prince Holding Group, as part of an international crackdown on a transnational crypto fraud network. U.S. prosecutors allege the group ran large-scale 'pig butchering' scams, laundering proceeds through over 100 shell companies and crypto mining operations, including LuBian, before converting funds to Bitcoin. The enforcement action, carried out on October 30, targeted six properties, bank accounts, vehicles, and other assets. U.S. and U.K. authorities also indicted Chen in mid-October and are seeking to seize $14.4 billion in Bitcoin tied to the scheme.
Singapore Freezes $150M in Assets Linked to Chen Zhi's Crypto Scam Network
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